Givex Information Technology Group Limited empowers retailers with its flexible, all-in-one fintech platform

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When Givex (TSX: GIVX, OTCQX: GIVXF) Information Technology Group was founded in the late 1990s, the company sold gift cards online for merchants, typically restaurants.

“People would go online, get whatever certificate they wanted, and we’d email it to their mom or dad or whoever it was,” CEO Don Gray told Proactive. “Then they would take a printed copy of that email to their favorite restaurant to cash it.”

Within a year and a half, the Toronto-based company began producing plastic gift cards, followed by loyalty offers. Today, more than 20 years later, the company has 310 employees in 12 offices in 10 countries and is a global provider of cloud-based customer engagement, point-of-sale and payment solutions. on a single platform.

READ: Givex announces partnership to open market for gift cards in Cittamobi’s digital wallet

Givex (TSX: GIVX, OTCQX: GIVXF) was founded by Gray and his wife Debra Demeza, who currently serves as the company’s Executive Vice President of Human Resources, in 1999 following the couple’s success at start one of the first Internet service providers in Canada in 1994. After building this business in two or three years, it was sold to a telecommunications company and the couple were looking for another way to use their expertise in the development Web and Websites.

“I’m an entrepreneur and I have a lot of experience in all the things it takes to run a business like this,” Gray said. Since starting his first company at age 19 (“I won’t tell you how long people can search,” he joked), Gray has grown, sold and closed 18 businesses, at its last count. .

“My wife and I developed Givex (TSX: GIVX, OTCQX: GIVXF) with a nominal amount of money, it was $3 million at the time, which we were able to use in the first almost 20 years of the company before we went public in 2021,” he explained. “We were very careful about how we used our capital because we didn’t have a lot of cash at our disposal.”

Their prudent spending and leadership set the company on the path to success. The Givex platform (TSX: GIVX, OTCQX: GIVXF) is currently used by some of the world’s leading brands in over 100,000 locations in over 100 countries, including Swiss Chalet, Wendy’s, Fairmont Hotels & Resorts and Marriott International (NYSE : TUE).

Fully integrated, single source of truth

Givex’s omnichannel platform provides merchants with valuable data insights, supporting gift card processing, personalized loyalty programs, payment processing, online ordering applications and more. But what sets the platform apart from its peers is its flexibility.

As Gray explained, the platform can be fully integrated with third-party products that a customer may already use or prefer to use in POS, loyalty programs, and more. “We think the combination of a complete system that can give everyone everything they need on one platform, plus the ability to stay flexible and allow people to integrate with us is unique” , he added. “A lot of our competitors don’t like to fit in and push that away.”

As the business has grown, Givex has not engaged third parties to develop or sell its services, which is convenient for its customers as they only have to deal with one point of contact. “We developed everything ourselves so that our customers can see us as a single source of truth,” Gray told Proactive. “We’ve made sure our customers have a partner who will provide them with all the service and support they need so that if there’s a problem, they can call us.”

READ: Givex launches GivexPOS POS system in 21 Prime Pubs locations across Canada

Just over a year after its IPO, Givex’s financial success is nothing short of impressive. The company posted revenue of $55.2 million for fiscal 2021 and, according to Gray, is growing 5% to 8% organically on top of growth driven by acquisitions.

“With the acquisitions we’ve made this year, we’re going to add at least $8-10 million in additional revenue, so we should have revenue between $68 million and $70 million (for fiscal year 2022),” he said. said.

He added that the company’s earnings before interest, taxes, depreciation and amortization (EBITDA) fluctuated each year depending on investments in products, etc., but generally fluctuated between 8% and 12%.

Regarding the growth of its global footprint, Gray said Givex is focused on expanding opportunities in its existing markets, including the UK, Canada, US, Mexico, Brazil, Colombia, Argentina, Switzerland, Australia, New Zealand, Singapore, Malaysia, and Hong Kong.

“We’re not really going to expand beyond those markets for a while,” Gray said. “We have a lot of work to do in these particular markets that we understand and are present in.”

A culture of keeping promises

When asked what sets Givex apart from its competitors, Gray emphasized the company’s team rather than its offering.

“We have low turnover,” he said. “A lot of our team members have been with us for over 15 years, a lot of them joined right out of school and college, and they’ve been able to grow within the organization because we offered many opportunities for career growth.”

Gray added that the Givex team is a testament to the company’s culture of keeping promises. “We have worked hard to deliver on our promises to our employees, customers, suppliers and investors,” he said. “When we say we’re going to do something, we do it.”

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